In this blog post, we explain to you the requirements to be able to use Relai. From the minimum age, to how you can send money to Relai to buy Bitcoin and in which countries we currently operate in.
We believe Bitcoin is the best way to save money. And at Relai we are raising the next generation of long-term investors by giving them a simple, user-friendly, and secure way to save Bitcoin.
However, we also have some requirements to be able to use Relai. We’ve listed all of the most common questions below. Don’t hesitate to reach out to us via support in the app, via email or on social media if you have any questions.
How old do I need to be to use the Relai app?
The minimum age to be able to use Relai is 18. Users below that age can’t use Relai.
Why do I need to verify my identity?
From November 1st on, you need to verify your identity to be able to use Relai as a service. We explained the reasoning and details behind this here: https://relai.app/blog/verify-yourself-relai/
How do I verify my identity?
Once you’ve downloaded the Relai app, you can head over to your profile in the menu and click on ‘My Wallet Level’. You’ll then be redirected to the verification page and can start your verification process.
What documents or details do I need to verify my identity?
To be able to verify yourself, you need to have the following documents ready:
- A passport or identity card
- A utility bill or bank statement to verify your address
Next to your documents, you also need the following:
- An email address
- A phone number for Multi-Factor-Authentication (MFA)
The verification process is fast and simple as we demonstrated in this video:
Is the Relai app available in the country I live in?
The Relai app is available for Android and iOS in the following countries:
Android (Google Play Store):
- Austria
- Belgium
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Italy
- Liechtenstein
- Luxembourg
- Netherlands
- Norway
- Poland
- Portugal
- San Marino
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
iOS (Apple App Store):
- Austria
- France
- Germany
- Italy
- Spain
- Switzerland
We are working hard on bringing our iOS app to more countries.
What are the payment options to be able to buy Bitcoin?
There are several payment options.
For users located in Switzerland, you can buy Bitcoin via bank transfer or if you use Yapeal as your bank, you’ll be able to directly login to your Yapeal account as a means of payment.
For users located outside of Switzerland, we offer the option to send money directly via bank transfer.
Credit cards, Apple Pay, and Google Pay are the alternatives if you want to use an instant payment method.
How often can I buy Bitcoin?
We have several options for you to choose from. There is always the option to do a single buy order, meaning you can create one in the app for your desired amount.
However, if you like to buy Bitcoin on a regular basis, one of our savings plan might be better suited for you. We offer the possibility to buy Bitcoin on a weekly or monthly basis.
You setup your auto-invest plan once and create a standing order with the references provided to you in the app.
How much do I pay in fees for buying and selling Bitcoin?
Our all-in-one fee includes everything from our service fee, the brokerage fee, the spread, and the network fee.
Buy Bitcoin for fees as low as 1%
The cheapest way to buy bitcoin with Relai is to:
- Set up a weekly or monthly savings plan
- Set order amount to 100 EUR/CHF or more
- Apply a referral code to your order
After taking advantage of all the above deductions, Relai users can reduce their fees from the initial 2.5% to the final fee of 1.0% for orders up to 100,000 CHF/EUR per transaction.
Credit card payments have an additional charge of 3.0 % per transaction.
Please note:
- In the event of a transaction refund, we charge a 0.6 CHF/EUR fee.
- For sending or receiving Bitcoin, we don’t charge an additional fee, but normal Bitcoin network fees will apply.Learn more about the Bitcoin network fee.
Planning on buying/selling over 100,000 EUR/CHF per transaction or per year?
Discover Relai Private, an exclusive service for investors looking to trade with large volumes (over 100,000 EUR/CHF per transaction). The fees for Relai Private transactions start at 1% and go as low as 0.5%.
How does the referral program work?
Our referral program grants you a unique code that your friends can use to reduce their fees by 0.5%. Additionally, you earn 0.5% of the total amount they buy or sell in Bitcoin.
Sharing your referral code:
- Share your referral code with others.
- Your trading fees will be reduced by 0.5%.
Earning rewards:
- You earn 0.5% of the total amount your friends invest in Bitcoin. For example, you could earn 5 CHF/EUR for every 1,000 CHF/EUR your friends invest.
- Higher investments lead to higher rewards.
Reward distribution:
- Your rewards will be transferred to your Relai wallet on the 1st of each month.
Commission structure:
- Whenever someone uses your referral code to buy or sell Bitcoin, including weekly savings plans, you earn a commission.
Updates to our referral program:
- Earnings limit: Referral earnings are limited to three months for regular users and six months for partners.
- Minimum payout: There is a minimum payout of 10 EUR/CHF for referral earnings.
Although your referral code remains active indefinitely, the bonus expires after three months for each friend (e.g., Friend A). If you invite another friend at a different time, their bonus will also expire three months after their start date.
Find out more about our referral program here: https://relai.app/referral/
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